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Automatic Millionaire (NonFiction)

February 10 2006 at 11:23 AM
David Bach  (Login chapteraday)
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n0767914104_l

Automatic Millionaire
by David Bach
Buy book: $12.96

What’s the secret to becoming a millionaire? For years people have asked David Bach, the national bestselling author of Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, what’s the real secret to getting rich? What’s the one thing I need to do?


 
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patty
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Re: Automatic Millionaire (NonFiction)

February 13 2006, 5:35 PM 

this seems too good yo be true!! Will be sure to read all of it!

 
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ABS
(Login NICEABS)

Re: Automatic Millionaire (NonFiction)

February 17 2006, 4:11 PM 

1 MILLION$ IS 1 MILLION$. Is that such abig deal, look at all the young athletes under age of 25 that already are worth near 40 or 50 million$. Anybody can acheive the $ its just how hard or how easy you make it.. Me i live off the monto " minuimin effort, maxuim relsults" Why stress yurself for $10.00/hour, when u can "hustle" and make a quick 1000$ in a matter minutes!. Do u think SEAN "PUFF DADDY" COMBS looks like he works hard? naw he looks relaxed man and he is worth 750 million$, and he is only 33 years old. Great for him! He looks like he is having fun and making his $ doing it. !

 
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Mindie
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Re: Automatic Millionaire (NonFiction)

February 13 2006, 11:49 PM 

Sounds too good to be true to me too. But it's caught my attention. Will continue reading to see what the "secret" is.

 
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Doris
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Millionaire

February 14 2006, 9:50 AM 

Sorry to douse water on the fire - but you all do remember the old saying, don't you? "if it sounds too good to be true, it usually is" -

 
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Lindy
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get to the book already

February 14 2006, 12:28 PM 

for a short book, the author has spent a lot of time being redundant these past two days. The information on the book sleeve has been painfully repeated in both monday's and tuesday's excerts. No wonder the author/publisher of Millionaire has released it to the book club, the beginning is a teaser to secrets to being wealthy. I have a feeling there isn't much to come and the only millionaire is the author by being sensational.

 
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Becky
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Re: get to the point already!

February 14 2006, 6:11 PM 

I agree. I'm planning on going to the library tomorrow and look at the book while my kids pick out their books. I don't have alot of time for pleasure reading and find this frustrating.

 
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esther
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mutual funds/ dollar cost averaging

February 15 2006, 6:38 AM 

I agree, get to the point, any point. Alright already, the author knows how to bait a hook. I hope the "secret" is not large scheduled mutual fund payments, this works but it's not a secret and it's hardly worth writing a new book about.

 
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Karen
(no login)

Can't wait to pick up the book

February 16 2006, 9:07 AM 

We are in same position as Jim & Sue so need to know how they did it compared to what we did to be able to retire at 55. I have book reserved at the library and hope to pick it up this afternoon so I can finish it.

 
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Lisa
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the "Secret"

February 16 2006, 9:47 AM 

There is no major secret and nothing new. The main point of the book is "pay yourself first and make it automatic." The author spends most of the book defending his idea that you should be putting 10% of your salary into a retirement plan and have it done electronically. He also does a chapter on saving money on a mortgage and one on the best way to get out of credit card debt.

He admits that nothing he says is revolutionary but he makes a good point. We all know we should be "paying ourself first" but most of us do it. He is mostly motivational. But he includes actual websites and phone numbers of resources, be they for bank rate comparisons, investment firms or mortgage companies. For me, it was exactly what i needed and he did it well. But please, to read this, take the book out of the library. No need to spend money on it -- don't forget the "Latte Factor!"

 
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nathan
(no login)

pay yourself, do you do it?

February 16 2006, 2:34 PM 

This is a very good fundamental book on investing. The latte factor makes you realize the amount of money you spend on miscellaneous things that don't cost much but add up. Investing where it is automatically deducted makes it consistent. That is the message on this book. A great read for those that don't invest consistently. Apply it and you will be a millionaire! :)

 
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Zsuzsa
(Login Zsuzsak)

I am hopeful

February 17 2006, 11:22 AM 

I joined the club yesterday so I only read the part that was sent today. We've been doing all these because this is how we think we should live our life not because we thought we can become millionaires. But now that I know it can happen, I am very happy. :-)

 
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Emma
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Anyone read his other books?

February 16 2006, 2:34 PM 

Has anyone read his other book
Smart Women Finish Rich, Smart Couples Finish Rich?

 
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Beth
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Author

February 17 2006, 10:03 AM 

The author is on Oprah right now!

 
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(no login)

Millionaire

February 17 2006, 10:40 AM 

I read this book some time ago and I felt that the concepts were solid and immediately implemented most of them in my own financial situtation. I have seen improvement in a short period of time. By setting up everything electronically, I put in some self-discipline techniques that really helped this busy single mom. What I was suprised about was the time and stress it saved me. Just the physical act of sitting down to pay my bills had been a real struggle. Now that everything is automatic, I feel like I have been set free.

 
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(no login)

Good book

February 17 2006, 11:39 AM 

The book is good, but it started off kind of slow. The information that I read later was excellent and it made alot of sense. I will be using the techniques myself and plan to read the rest of the book.

 
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Mike
(no login)

Great Principle

February 17 2006, 12:07 PM 

Great principle, but hardly revolutionary. Read "The Richest Man in Babylon" by George Clason (1926). Same principle but I like Clason's mantra better, "10% of everything I earn is mine to keep."

 
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Dian
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Latte factor

February 20 2006, 9:57 AM 

My husband and I are like Jim & Sue - not real exciting to look at, but we socked away the nickels and dimes for the past 20 years, beginning in our early 20s. We quit corporate jobs at age 41/43 and now sit on the porch every morning. We also worked a 2nd part time job even if it's only 1 evening a week, and all that goes directly to extra principle payments on the mortgage we had. My friend bought the so-popular Ugg boots at Nordstrom's. I bought mine 1/2 price on e-bay.

 
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